September 22, 2006
U.S. August Housing Starts Fell 6 Percent
U.S. August Housing Starts Fell 6 Percent
The pace of U.S. home building fell more sharply than expected in August as builders broke ground on new homes at the slowest rate since April 2003, as showed by a government report.
The Commerce Department said U.S. housing starts fell 6.0 percent n August to an annual pace of 1.665 million units, compared to a downwardly revised 1.772 million in July.
Economists had forecast August housing starts to decline to 1.75 million units from July’s originally reported pace of 1.795 million.
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